So, if one can buy a house for less money than in Watts, California anywhere else in the United States... that, by your definition, means fucking WATTS is a more "desirable" location. because if that is your argument... we can just stop now as it's pretty stupid.
Watts is expensive DESPITE it's shitty-ness. It's expensive because everything around it is astronomically expensive. If you want say CALIFORNIA [[home to 38 million people) as a whole is more desirable than Michigan and that raises the prices for everyone who wants to live there I'd agree. However, your premise makes no such allowances and is saying it's either BH or Watts. I mean really you've basically just said that Watts is more 'desirable' than Chicago because you can find tons of houses in Chicago that are cheaper. you cant be serious.
You are also aware that California leads the nation in foreclosures and was the leading edge of the artificial real estate boom too right?
Median home prices:
Neighborhood Jun - Aug '09 yr-over yr 1 yr prior
Watts $120,350 -53.8% $260,310
Los Angeles $289,000 -27.7% $400,000
So, is a -53.8% median home price fall evidence of desirability?
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